Ericsson Replaces CFO

STOCKHOLM -- Hans Vestberg is appointed Chief Financial Officer of Ericsson (NASDAQ: ERIC), effective as of today. Hans Vestberg is presently head of business unit Global Services and Executive Vice President. He will remain in the position as head of Global Services until a successor has been appointed. Vestberg will also remain in his position as Executive Vice President.

Karl-Henrik Sundström, former Chief Financial Officer and Executive Vice President, has decided to leave Ericsson.

"With his experience Karl-Henrik Sundström has been a key contributor to Ericsson's industry leading position," said Carl-Henric Svanberg, President and CEO of Ericsson. "Since Karl-Henrik Sundström took on the position as CFO, in the middle of the industry crisis, he has been instrumental in turning the company around and rebuilding it into the strongest in the industry."

Ericsson AB (Nasdaq: ERIC)